Fannie Mae reduced its mortgage origination volume forecast for 2018 and 2019 as rising interest rates are affecting refinancings now, and will curtail purchase activity going forward.
As mortgage rates continued rising, the percentage of closed home purchase loans grew to its highest level in about four years, according to Ellie Mae.
Mortgage applications decreased by 2.7% and fell for the sixth straight week as key interest rates fell slightly, according to the Mortgage Bankers Association.
Mortgage applications decreased by 0.4% and were down for the fifth straight week, as key interest rates also fell slightly, according to the Mortgage Bankers Association.
From falling originations to market share shifts for nonbanks and government loans, here's a look at eight key findings from the just-released 2017 Home Mortgage Disclosure Act data.
The number of mortgage borrowers for whom it made sense to refinance declined by nearly half since the end of last year and is at its lowest since November 2008.
As the mortgage industry makes more strides with technology, the time it took millennials to close loans for new-home purchases shrank to its fastest time yet.
While mortgage application defect risk declined overall in March, at the local level it varied considerably, according to First American Financial Corp.'s Loan Application Defect Index.
The Federal Housing Finance Agency's plan to combine Fannie Mae and Freddie Mac mortgages into a single security starting in June 2019 promises to bring both benefits and challenges to the mortgage sector.
